Home / Knowledge / News / Fashion / Pacific Sunwear same-store sales drop in Q1

Pacific Sunwear same-store sales drop in Q1

23
May '08
Pacific Sunwear of California Inc announced that total sales from continuing operations for the first quarter (13 weeks) of fiscal 2008 ended May 3, 2008, were $266.9 million versus total sales of $268.1 million from continuing operations for the first quarter (13 weeks) of fiscal 2007 ended May 5, 2007. Total Company same-store sales decreased one percent during the period.

The Company recorded a net loss from continuing operations of $12.0 million, or $0.17 per diluted share, for the first quarter of fiscal 2008 compared to a net loss of $0.3 million, or less than one cent per diluted share, for the first quarter of fiscal 2007.

First quarter results for each period exclude the income statement impact of demo and One Thousand Steps due to their being designated as discontinued operations during the first quarter of fiscal 2008 and the fourth quarter of fiscal 2007, respectively.

First quarter results for fiscal 2008 include an after-tax asset impairment charge of $4.9 million, or $0.07 per diluted share, associated with the Company's materials handling equipment in its closed Anaheim distribution center. Assuming all contingencies to closing are satisfied, the Company currently expects the previously announced sale of its Anaheim distribution center to be completed by the end of fiscal 2008.

"Although our first quarter was disappointing, we successfully accomplished four meaningful initiatives that position us well going forward. We completed the liquidation of our demo business; consolidated distribution activities to into our Olathe, Kansas Distribution Center; entered into an agreement to sell our Anaheim Distribution Center, and transitioned sneakers and fashion footwear from our PacSun stores," commented Sally Frame Kasaks, Chief Executive Officer.


Interviews View All

Headhonchos, Indian fashion industry

Headhonchos
Indian fashion industry

Organic the first choice of any environment-conscious person

Top executives, Textile industry

Top executives
Textile industry

The foremost issue is bridging the skill gap

Yash Maniyar, Rekha Maniyar

Yash Maniyar
Rekha Maniyar

Indian fashion market is growing at a staggering rate

Paolo Toricella,

Paolo Toricella

Electronics for Imaging (EFI) is a global technology company, based in...

Hardik Sanghvi,

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Aaron Spivak,

Aaron Spivak

Canada-based Hush Blankets was founded by Lior Ohayon and Aaron Spivak to...

Larry L Kinn, Suominen Corporation

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Iago Castro Asensio, RCfil Distribuciones S.L.

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Thomas Ong P S, NanoTextile

Thomas Ong P S
NanoTextile

Malaysian company NanoTextile Sdn Bhd taps into the potentials of...

Aditi Somani, Aditi Somani

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Judy Frater, Somaiya Kala Vidya

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Tony Ward, Tony Ward

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


November 2019

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

Follow us on instagram

Follow

Follow Fibre2Fashion On

Follow Fibre2Fashion On


Advanced Search